BREAKING NEWS
IMB Profits Drop in 2nd Quarter; Applications Up in MBA Weekly Survey
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $2,023 on each loan they originated in the second quarter, down from $3,361 per loan in the first quarter, the Mortgage Bankers Association reported Tuesday in its Quarterly Mortgage Bankers Performance Report.
Mortgage applications increased from one week earlier as interest rates slid back toward 3 percent, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending August 20.
New single‐family home sales posted a modest 1 percent increase in July amid more signs of a stabilizing housing market, HUD and the Census Bureau reported Tuesday.
The Mortgage Bankers Association, the American Bankers Association, the Consumer Bankers Association and the Independent Community Bankers of America asked HUD to ensure it codifies a standard of disparate impact that is fully consistent with Supreme Court precedent and implements the Fair Housing Act’s requirements with a clear legal framework to address unlawful discrimination.
Financial institutions are losing ground in the battle for mortgages. Learn what FIs could do to take back market share.
Landmark Properties, Athens, Ga., and Blackstone Real Estate Income Trust, New York, launched a joint-venture partnership to recapitalize eight student housing assets totaling 5,416 beds across the U.S.
LRES Corp., Orange, Calif., signed a definitive agreement to acquire Keystone Asset Management Inc., a Pennsylvania corporation. The deal is expected to be completed September 1, and the joined companies will operate under the LRES Corporation name.
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 1 basis point to 3.25% of servicers’ portfolio volume as of August 15 from 3.26% the week prior. MBA estimates 1.6 million homeowners are in forbearance plans.
Josh Lehr is Director of Technology Alliances with Total Expert, Minneapolis, a fintech software company that built the first customer experience platform purpose-built for financial institutions.
Dealing effectively with a fast-changing market is only possible when data analysts can pull real business insight out of big pools of data. Fortunately, we have access to the technologies to help lenders get this job done.
MBA CONVERGENCE presents the next in its Webinar Series, Mayors and Affordable Housing: Perspective from City Hall, on Thursday, Sept. 16 from 1:30-2:15 p.m. ET.
Registration for the Mortgage Bankers Association’s Annual Convention & Expo, taking place Oct. 17-20 at the San Diego Convention Center, is officially open. Join MBA in San Diego as Academy Award- and Presidential Medal of Freedom Award-winning actress Rita Moreno keynotes the mPower Luncheon on Tuesday, Oct. 19.
